liberty wrote:
A monopoly is only a bad thing if it is a coercive monopoly. A firm who accomplishes the almost impossible feat of achieving a monopoly on a free and open market is deserving of the highest praises.
Good or Bad is different from efficient/inefficient in the economic sense. A monopoly may be deserved but it still incurs "deadweight loss." Of course it a simple minded and unhelpful thing to say that economic efficiency as defined by a micro-econ textbook is the end all be all of public policy.